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| Greenway Plaza, Houston, TX |
ATLANTA, GA -- Cousins Properties Incorporated (the
“Company”) (NYSE: CUZ) today announced the completion of its public offering of
60,000,000 shares of the Company’s common stock, plus an additional 9,000,000
shares of the Company’s common stock issued and sold pursuant to the exercise
of the underwriters’ option to purchase additional shares in full, at the
public offering price of $10.00 per share.
The net proceeds from the offering, after deducting the
underwriting discount and offering expenses, were approximately $661.3 million.
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| 777 Main Street, Fort Worth, TX |
The Company intends to use the net proceeds of the offering
to fund a portion of the purchase price (and related transaction expenses) of
the previously announced pending acquisition of a 5.3 million square foot Texas
office portfolio comprised of Greenway Plaza, a 10-building office
complex in Houston, Texas, and 777 Main Street, a Class A office tower
in Fort Worth, Texas, for a total purchase price of approximately $1.1 billion.
Any remaining
proceeds will be used for general corporate purposes, including the redemption
of all or a portion of the Company’s Series B Preferred Stock, the acquisition
and development of office properties, other opportunistic investments and the
repayment of debt.
For a complete copy of the company’s news release, please
contact:
Cousins Properties Incorporated
Cameron Golden, 404-407-1984
Vice President of Investor Relations and Corporate
Communications
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